Deutsche Bank AG Lowers Stock Position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Deutsche Bank AG cut its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 31.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 89,531 shares of the financial services provider’s stock after selling 41,415 shares during the quarter. Deutsche Bank AG’s holdings in Pacific Premier Bancorp were worth $2,231,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Pacific Premier Bancorp by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 11,241,494 shares of the financial services provider’s stock valued at $280,138,000 after purchasing an additional 78,381 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Pacific Premier Bancorp by 2.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,842,985 shares of the financial services provider’s stock valued at $70,847,000 after purchasing an additional 74,644 shares during the period. Invesco Ltd. increased its stake in shares of Pacific Premier Bancorp by 12.1% during the 4th quarter. Invesco Ltd. now owns 2,246,800 shares of the financial services provider’s stock valued at $55,990,000 after acquiring an additional 241,881 shares during the last quarter. Alliancebernstein L.P. increased its position in Pacific Premier Bancorp by 0.5% during the fourth quarter. Alliancebernstein L.P. now owns 1,467,366 shares of the financial services provider’s stock worth $36,567,000 after purchasing an additional 7,465 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Pacific Premier Bancorp by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,344,690 shares of the financial services provider’s stock worth $33,510,000 after buying an additional 54,518 shares during the period. 93.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PPBI has been the topic of several research reports. DA Davidson lowered Pacific Premier Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 24th. Wall Street Zen began coverage on shares of Pacific Premier Bancorp in a research note on Thursday. They issued a “sell” rating on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Pacific Premier Bancorp currently has a consensus rating of “Hold” and a consensus price target of $27.25.

Insider Transactions at Pacific Premier Bancorp

In other news, COO Edward Earl Wilcox sold 14,500 shares of the business’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $20.28, for a total value of $294,060.00. Following the sale, the chief operating officer now owns 140,283 shares in the company, valued at approximately $2,844,939.24. The trade was a 9.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.29% of the stock is currently owned by corporate insiders.

Pacific Premier Bancorp Trading Down 0.2%

NASDAQ:PPBI opened at $21.17 on Friday. The stock has a fifty day simple moving average of $20.77 and a 200 day simple moving average of $23.88. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of 12.91 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.09. Pacific Premier Bancorp, Inc. has a 1-year low of $18.06 and a 1-year high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.07. The business had revenue of $144.83 million for the quarter, compared to the consensus estimate of $143.25 million. Pacific Premier Bancorp had a net margin of 17.54% and a return on equity of 5.43%. During the same period in the prior year, the business posted $0.49 earnings per share. Sell-side analysts forecast that Pacific Premier Bancorp, Inc. will post 1.34 earnings per share for the current year.

Pacific Premier Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 12th. Investors of record on Monday, May 5th were paid a dividend of $0.33 per share. The ex-dividend date was Monday, May 5th. This represents a $1.32 annualized dividend and a yield of 6.24%. Pacific Premier Bancorp’s payout ratio is 86.84%.

About Pacific Premier Bancorp

Pacific Premier Bancorp, Inc operates as the bank holding company for Pacific Premier Bank that provides various banking products and services in the United States. The company accepts deposit products, which includes checking, money market, savings accounts, and certificates of deposit. Its loan portfolio includes commercial real estate owner and non-owner-occupied, multifamily, construction and land, franchise real estate secured, and small business administration (SBA); revolving lines of credit, term loans, seasonal loans, and loans secured by liquid collateral; one-to-four family and home equity lines of credit loans; and small balance personal unsecured loans and savings account secured loans.